Medium vs mega — does going to 1,000 units still add $psf?
Our earlier study showed larger projects trade higher per sq ft than boutique ones. So does the effect keep going all the way up? We compared matched pairs — a medium project (~250–660 units) against a mega one (800+ units) that is alike in district, tenure, era and MRT distance — on where each trades today (median $psf, last 12 months of URA caveats).
TL;DR
- In the heartland, mega scale keeps paying: an 800+ unit project trades about +15% (OCR) and +7% (RCR) over a matched ~400-unit medium neighbour.
- In the prime CCR the pattern flips to +2% — exclusivity and privacy outsell scale, and heavy same-project resale supply caps $psf.
- The mega uplift is incremental, not a step-change — ~400 units already buys real facilities and decent liquidity.
- Best for: buy mega scale in the suburbs / city fringe for resale strength; in the prime core don’t overpay for size — a well-positioned medium project holds price better.
The conclusion
Mega scale keeps paying — until you reach the prime core
Across the suburbs and city fringe the mega project still trades higher per sq ft — about +15% in the OCR and +7% in the RCR. But in the prime CCR the pattern flips: mega developments trade flat-to-lower (+2% median) than their medium neighbours, because at that price point exclusivity outsells scale. Size helps in the heartland; it dilutes in the prime core.
Mega project’s median $psf vs its medium-sized matched neighbour, by URA market segment:
Why the prime core is different. CCR mega projects are rare, and the medium projects they sit beside are often boutique-luxury (Fourth Avenue Residences, Corals at Keppel Bay), which command a scarcity premium. So the CCR reading is as much about project positioning as raw unit count — the cleaner read on the pure size effect is the OCR and RCR, where mega still adds a solid ~+11%.
The evidence — 15 matched pairs
Each pair is a medium project and a mega one that are alike on district, tenure, era and MRT distance — so the main difference is size. Amber = medium (~400 units); green = mega (800+); the badge is the mega project’s $psf premium (or discount) today. We work up from the suburban OCR to the prime CCR — watch the sign change.
Outside Central Region (OCR) — the suburbs
Suburban townships. Going mega adds the most here — a large development anchors its own catchment, amenities and resale liquidity.
D22 · OCR · 99 year leaseholdBoth ~2005–2008 · 722 m apart · similar MRT distance
Medium ~400u
LAKEHOLMZ369 units · TOP 2005 · ~488 m to MRT
$1,298 psf
+15.1%mega vs medium
Mega 800+
THE LAKESHORE848 units · TOP 2008 · ~235 m to MRT
$1,502 psf
The mega-scale THE LAKESHORE (848 units) currently transacts about 15.1% higher per sq ft than the medium-sized LAKEHOLMZ (369 units) nearby.
D19 · OCR · 99 year leaseholdBoth ~2016–2015 · 610 m apart · similar MRT distance
Medium ~400u
ECOPOLITAN512 units · TOP 2016 · ~543 m to MRT
$1,416 psf
+16.4%mega vs medium
The mega-scale A TREASURE TROVE (882 units) currently transacts about 16.4% higher per sq ft than the medium-sized ECOPOLITAN (512 units) nearby.
D16 · OCR · 99 year leaseholdBoth ~1985–1986 · 1606 m apart · similar MRT distance
Medium ~400u
BEDOK COURT280 units · TOP 1985 · ~578 m to MRT
$1,057 psf
+24.1%mega vs medium
Mega 800+
BAYSHORE PARK1,083 units · TOP 1986 · ~599 m to MRT
$1,313 psf
The mega-scale BAYSHORE PARK (1,083 units) currently transacts about 24.1% higher per sq ft than the medium-sized BEDOK COURT (280 units) nearby.
D16 · OCR · 99 year leaseholdBoth ~1994–1997 · 1621 m apart · similar MRT distance
Medium ~400u
THE TANAMERA288 units · TOP 1994 · ~433 m to MRT
$1,216 psf
+12.4%mega vs medium
Mega 800+
THE BAYSHORE1,038 units · TOP 1997 · ~417 m to MRT
$1,387 psf
The mega-scale THE BAYSHORE (1,038 units) currently transacts about 12.4% higher per sq ft than the medium-sized THE TANAMERA (288 units) nearby.
D19 · OCR · 99 year leaseholdBoth ~2015–2016 · 170 m apart · similar MRT distance
Medium ~400u
HERON BAY394 units · TOP 2015 · ~823 m to MRT
$1,398 psf
+6.5%mega vs medium
Mega 800+
RIVERSAILS920 units · TOP 2016 · ~660 m to MRT
$1,482 psf
The mega-scale RIVERSAILS (920 units) currently transacts about 6.5% higher per sq ft than the medium-sized HERON BAY (394 units) nearby.
Rest of Central Region (RCR) — the city fringe
City-fringe districts just outside the prime core. Mega still trades higher, but the gap narrows.
D8 · RCR · FreeholdBoth ~2014–2009 · 1026 m apart · similar MRT distance
The mega-scale CITY SQUARE RESIDENCES (910 units) currently transacts about 22.8% higher per sq ft than the medium-sized CITYSCAPE @FARRER PARK (250 units) nearby.
D14 · RCR · 99 year leaseholdBoth ~2018–2017 · 460 m apart · similar MRT distance
Medium ~400u
TRE RESIDENCES250 units · TOP 2018 · ~251 m to MRT
$1,884 psf
+2.3%mega vs medium
The mega-scale SIMS URBAN OASIS (1,024 units) currently transacts about 2.3% higher per sq ft than the medium-sized TRE RESIDENCES (250 units) nearby.
D20 · RCR · 99 year leaseholdBoth ~2016–2022 · 992 m apart · similar MRT distance
Medium ~400u
THOMSON THREE435 units · TOP 2016 · ~374 m to MRT
$2,148 psf
+7.2%mega vs medium
Mega 800+
JADESCAPE1,206 units · TOP 2022 · ~367 m to MRT
$2,355 psf
The mega-scale JADESCAPE (1,206 units) currently transacts about 7.2% higher per sq ft than the medium-sized THOMSON THREE (435 units) nearby.
D13 · RCR · 99 year leaseholdBoth ~2016–2021 · 889 m apart · similar MRT distance
+21.8%mega vs medium
Mega 800+
PARK COLONIAL805 units · TOP 2021 · ~109 m to MRT
$2,302 psf
The mega-scale PARK COLONIAL (805 units) currently transacts about 21.8% higher per sq ft than the medium-sized SENNETT RESIDENCE (332 units) nearby.
D5 · RCR · 99 year leaseholdBoth ~2023–2023 · 758 m apart · similar MRT distance
+1.0%mega vs medium
Mega 800+
NORMANTON PARK1,840 units · TOP 2023 · ~1086 m to MRT
$2,024 psf
The mega-scale NORMANTON PARK (1,840 units) currently transacts about 1.0% higher per sq ft than the medium-sized KENT RIDGE HILL RESIDENCES (498 units) nearby.
Core Central Region (CCR) — prime
The prime core — Marina Bay, Keppel Bay, D10. Here the pattern flips: mega scale dilutes exclusivity, and boutique-to-medium projects hold or beat it.
D1 · CCR · 99 year leaseholdBoth ~2011–2008 · 286 m apart · similar MRT distance
Medium ~400u
ONE SHENTON341 units · TOP 2011 · ~177 m to MRT
$1,881 psf
+11.5%mega vs medium
The mega-scale THE SAIL @ MARINA BAY (1,111 units) currently transacts about 11.5% higher per sq ft than the medium-sized ONE SHENTON (341 units) nearby.
D1 · CCR · 99 year leaseholdBoth ~2017–2017 · 503 m apart · similar MRT distance
Medium ~400u
V ON SHENTON510 units · TOP 2017 · ~150 m to MRT
$1,880 psf
+1.6%mega vs medium
The mega-scale MARINA ONE RESIDENCES (1,042 units) currently transacts about 1.6% higher per sq ft than the medium-sized V ON SHENTON (510 units) nearby.
D1 · CCR · 99 year leaseholdBoth ~2011–2008 · 612 m apart · similar MRT distance
Medium ~400u
THE CLIFT312 units · TOP 2011 · ~331 m to MRT
$2,038 psf
+2.5%mega vs medium
The mega-scale THE SAIL @ MARINA BAY (1,111 units) currently transacts about 2.5% higher per sq ft than the medium-sized THE CLIFT (312 units) nearby.
D4 · CCR · 99 year leaseholdBoth ~2016–2011 · 662 m apart · similar MRT distance
The mega-scale REFLECTIONS AT KEPPEL BAY (1,129 units) currently transacts about 16.1% lower per sq ft than the medium-sized CORALS AT KEPPEL BAY (366 units) nearby.
D10 · CCR · 99 year leaseholdBoth ~2022–2014 · 1902 m apart · similar MRT distance
-18.7%mega vs medium
Mega 800+
D'LEEDON1,703 units · TOP 2014 · ~511 m to MRT
$2,072 psf
The mega-scale D'LEEDON (1,703 units) currently transacts about 18.7% lower per sq ft than the medium-sized FOURTH AVENUE RESIDENCES (476 units) nearby.
What it means — findings & actionables
Why mega wins in the heartland: a 1,000-unit development anchors its own catchment — full condo facilities, retail at the doorstep, and a deep, liquid resale market that prices confidently and sells with small discounts. Buyers pay up for that certainty. Why it flips in prime: at CCR price points, buyers pay for scarcity and privacy, which a mega project by definition can’t offer — and heavy same-project resale supply caps $psf.
For a buyer or investor:
- In the suburbs and city fringe, mega scale is an asset — the liquidity and amenities of an 800+ unit project support a firmer resale $psf than a mid-sized neighbour.
- In the prime core, don’t overpay for size — a mega address there trades flat-to-below a well-positioned medium project; exclusivity, not unit count, drives prime pricing.
- Medium projects aren’t the weak link — ~400 units already buys real facilities and decent liquidity; the mega uplift is incremental, not a step-change, so weigh it against price and unit choice.
- Watch launch-and-resale supply — a very large project releasing many resale units at once can hold $psf down for a few years after TOP.
- Read this together with the boutique-vs-large study — the size premium rises from boutique to medium to mega in the heartland, but tops out and reverses in prime.
A tendency, not a law. Exact location, unit mix, build quality and timing all vary; mega projects in prime are few, so the CCR sample is thin and dominated by a handful of Marina Bay / Keppel Bay developments. Treat this as the base rate, then judge the specific project.
How is this worked out? — assumptions, data & sources
Prices
Median $psf of URA caveats over the trailing 12 months (per project, gross outliers removed) — the same transaction records that power the rest of HomeVestor.
Matched pairs
Each medium project (~250–660 units) is paired with a mega one (700+ units) on district, tenure class, completion year (within ~9 years) and nearest-MRT distance, then current $psf is compared.
Lease-adjusted
Premiums use a
freehold-equivalent $psf — each project divided by its remaining-lease discount from our
lease-decay curve — so a size gap is never a lease-age artefact. The pattern is unchanged (avg
+7.4% lease-adjusted vs +7.5% raw); the heartland premium and the prime-core flip both hold.
Segments
Follow URA’s CCR / RCR / OCR definitions; coordinates from OneMap, distances straight-line.
Note: mega projects are scarce in the RCR and CCR, so those pairs use the best-available matches within each district.
For educational purposes only — not financial advice.